What Are My Insurance Options If I Am Relocating?

Have you been thinking about relocating from your current dwelling, and curious about what you need to do in order to prepare for this step? When you start to make moving arrangements, you more than likely will need to think about packing up your belongings, hiring people to help you move, and transferring your renters or homeowners insurance to your new property location. You may also be wondering if you need some sort of insurance coverage for relocating as well. If you are located in San Diego, California, and have questions about your insurance options, Windfall Insurance Services Inc. is here to help. Continue reading to learn more about insurance options during a relocation.

Moving Insurance: Essential Information

A moving insurance policy helps to cover the cost of repairing or replacing your personal property if it is damaged during a move while being transported by a moving company. Relocating to a new location does put your personal items at risk for potential damages, and having an appropriate moving insurance policy helps protect your property in the event that any issues arise, because accidents can occur, no matter how careful you are during a move. Many people mistakenly believe that their renters or homeowners insurance will cover the expense of damaged items, however, these policies only cover property that is in your home; therefore, it is a good idea to invest in moving insurance. Moving insurance prices will depend on the type of policy that you choose, and fortunately, it is an affordable expenditure.

What Are My Moving Insurance Options?

If you intend on having movers help you relocate, the main types of moving insurance include:

• Full value protection – With this coverage type, your mover is responsible for the overall cost of the replacement value of any lost or damaged items during the move. This coverage type is highly recommended because it covers the total replacement value of the property; the price of full value protection coverage will vary depending on the mover.
• Released value coverage – This type of coverage is the most basic package and is required by federal law. This insurance is free and only provides minimal coverage, paying up to 60 cents a pound of an item. It is important to note that if you are moving high-priced items, it does not cover the full replacement cost.
• Separate liability coverage – This offers a separate coverage that is offered by some movers through a third party at an additional cost when relocating. Separate liability policies will only cover the remaining cost of the released value protection that your mover is responsible for, (which only covers up to 60 cents per pound).

If you are interested in relocating and have questions about your insurance options in San Diego, California, contact Windfall Insurance Services Inc. today for a consultation.